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Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.

Jeremy Grantham

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Jeremy Grantham
Age: 86
Born: 1938
Born: October 6
Investor
Manager
Herts
Robert Jeremy Goltho Grantham
Every
Bubble
Always
Bubbles
Repeats
Exception
Broken
History
Remember
Great
Exceptions

More quotes by Jeremy Grantham

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It is better to be lucky than good, but of course appropriate to aspire to both.
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Equities are boring bonds are disgusting.
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Some societies are also more optimistic than others: the U.S. and Australia are my two picks Tell a European you think there’s a housing bubble and you’ll have a reasonable discussion. Tell an Australian and you’ll have World War III. Been there, done that!
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You can't run the economy on BMWs alone. If the average person is in a pickle, how do you have a healthy economy?
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If stocks are attractive and you don't buy, you don't just look like an idiot, you are an idiot.
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The stock market is overpriced. Everything is overpriced. Junk is king.
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Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.
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Capitalism believes that its remit is exclusively to make maximum short-term profits.
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Americans are just about the worst at dealing with long-term problems, down there with Uzbekistan, but they respond to a market signal better than almost anyone. They roll the dice bigger and quicker than most.
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We live on a finite planet. We have finite resources, and we're running out of good, arable land.
Jeremy Grantham
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I like to be right. I try not to miss the big ideas, forget the little ones, and try to get them right. End of job description.
Jeremy Grantham
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Modern agriculture has been accurately described as a way of turning oil into food. As the price of oil continues to rise, so will the price of food.
Jeremy Grantham
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There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.
Jeremy Grantham
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I find the parallels between how some investors refuse to recognise the trends and our reaction to some of our environmental challenges very powerful. There is an unwillingness to process unpleasant data.
Jeremy Grantham
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Investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free and easy, cheap credit, and they need it for at least two or three years. Importantly, they also need serial pleasant surprises in such critical variables as global GNP growth.
Jeremy Grantham
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The pure administration of Graham-and-Doddery really needs a long-term lock-up like Warren Buffett has, or it will have occasional quite dreadful client problems.
Jeremy Grantham
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At least us old men remember what a real bear market is like, and the young men haven't got a clue.
Jeremy Grantham
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Battering down solar cells on the roofs of Wal-Marts in California. I think that will be some of the highest-return investments that anyone ever makes.
Jeremy Grantham
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Market timing, by the way, is a tag some buy-and-hold investors use to put down anything that involves using your brain. These are the same people who like to watch the locomotive coming and get run down in the name of discipline.
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I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
Jeremy Grantham